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What do I have to pay back?

I am dropping out on the 19th of April (just after my last instalment from student finance) and was wondering what it is that I have to pay back as when I asked student services at my university they weren't very clear.

Can I keep my last maintenance loan but just pay back all of my last instalment of the grant?

The reason I was dropping out on the 19th of April and not earlier was so I could have the last of the loan to cover my rent and won't have to pay any of my 2nd instalment of the grant back (which I've used for rent and living costs already) my university keeps telling me to drop out now as it will save me money in the long run (as ill save money on tuition costs too) but I really can't afford to drop out before my 3rd instalment as i'll have nothing to pay the rent with.

So do you guys know what it is I have to pay back upfront and what I can keep if I drop out just after my last instalment?

Reply 1

Shelly_x

Have you rung student finance and asked?

Reply 2

Shani

You will have to pay back any overpayment of grant and loan. If you drop out immediately after the payment then you can almost guarantee that it will all need to be paid back - and it will be immediately repayable. You would need to get an accurate figure from SF though.

They will usually work out a monthly payment plan with you, which will be a set amount per month, regardless of your income, and they can withhold any future funding until this is paid back.